It’s Important You Know Your Credit Score and History
Have you ever seen your credit report? Finding out is as simple as contacting a credit bureau once a year and obtaining a free copy. The report is easy to understand, once you know what you are looking for.
Most companies report to one or more of the major credit bureaus. If you have ever applied for a loan or for credit, you have a file at one of the three major credit bureaus. What this means for you is that to get your credit bureau report, you may need to request a report from all 3 so that you can get a look at your credit bureau “big picture” so you can repair your credit history and score if necessary.
Getting a free credit report is as simple as contacting the credit bureau. If you have a computer with internet access, you can make the request online. A request can be sent by mail also. Be prepared to provide some identifying information, to confirm that the report you are ordering is your own. There are some websites that charge a fee to provide your report, but you do not have to use them—you are entitled to a free report each year by law.
Once your credit report is in your hands, look it over carefully. Look for incorrect information in the first section. This section shows your name, address, and other personal information. Contact the credit bureau with any corrections that are necessary.
The next section shows your current open accounts and payment history. Make sure that all the accounts listed are actually yours, and that the payments and balances are correct. Any missed or late payments will show up of the credit report.
The credit bureau will list those merchants that use its service, so different credit bureaus will list different merchants and may report a different credit history. It is possible to have an great credit score with two of the 3 major bureaus and a poor rating with the other, for example. Your credit report list any requests or inquiries by lenders that have occurred recently. Review your inquiries carefully to make sure no unauthorized persons have requested your report.
Be sure to contact the credit bureau with any information that needs to be corrected regarding your debt and credit history, so the credit bureau can take steps to make the necessary corrections.
Monitoring your credit report on an annual basis will keep you up to date on your credit profile, and help give you a sense of peace and security about your financial outlook.
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